Commentary and analysis on markets, personal finance, and wealth building from a contrarian perspective. "I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting there and trying to dream it up all yourself. Nobody’s that smart."
— Charlie Munger

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Monday, June 12, 2017

Beginning my short term trading career. First trade candidate is breakout on Enzo Biochem (ENZ)

I have been wanting to dip my toe into short term trading. I am not going overboard as I am still testing various methodologies to identify potential trading candidates. My first trade candidate is Enzo Biochem (ENZ). It had a nice breakout on Friday on big volume. I will look for it to pullback slightly before its next move higher.

Edit at 6:45 PM:

The stock pulled back today after the big breakout on Friday just like I expected.

I got long at $9.80. I have a hard stop at $8.90. Lets see how this works out.